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19.07.2024
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China's central bank will help stabilize the country's economy

dengi kitajskie foto 2The Central Bank of China promised to make every effort to maintain the stability of economic growth, employment and prices in the country with the help of an effective monetary policy.

In its report on monetary policy for the first quarter, the NBK stated that it intends to combine the implementation of a strategy to expand domestic demand with the deepening of structural reform in the supply sector and use the effects of policy measures to stimulate the viability of economic entities.
As follows from the report, the Central Bank also intends to make a balanced monetary policy more focused and effective and maintain a sufficient level of liquidity to expand domestic demand and reliable support for the real economy sector.
The establishment of an institutional mechanism to ensure the supply and stabilization of food and energy prices will be supported in order to maintain basic price stability.
In addition, according to the report, further efforts will be made to deepen market reforms of interest rates in order to maintain them at a reasonable and moderate level.
The exchange rate of the yuan will remain generally stable at a rational and balanced level, while the mandatory condition for the inadmissibility of systemic financial risks will be met.
The document also notes that the triple pressure in the form of a reduction in demand, a shortage of supply and a weakening of expectations has decreased, economic growth has exceeded expectations, market demand is gradually recovering, and economic development is showing upward dynamics, Xinhua News writes.
Aggregate supply and demand in China are generally balanced, monetary conditions are reasonable and moderate, residents' expectations are stable, there are no prerequisites for long-term deflation or inflation in the country, the report says.